Wool prices on the rise, according to BWMB

6th November 2013

Fans of knitting, crochet and all things wool-related will be interested to learn that wool prices are on the rise.

At least this is what chairman of the British Wool Marketing Board (BWMB) Malcolm Corbett has said is the case, after appearing at the organisation's recent annual conference, which was held in the 2013 City of Culture Derry - officially Londonderry - the second-largest city in Northern Ireland.

Considering the prices towards the end of the 2012 selling season and the sales at the opening of the current session, Mr Corbett commented: "Demand was so strong in the closing half of last season that we sold virtually every kilo of wool, which was hugely important as we headed into a new selling season."

He added that prices are more than one-third up year-on-year, according to the Carrick Gazette, while the volumes shifted have also been significantly higher.

Commenting on the reason for the upturn in prices, the expert explained how the boost in the housing market was helping, but that China's interest in the product was having a significant impact too.

The BWMB, an organisation established in 1950 and run by farmers, was set up to consolidate a central marketing system for UK fleece wool in order to safeguard the best net returns for those producing wool.

All producers - aside from those in Shetland, which has its own set-up - with four or more sheep are required to register, with over 46,000 currently on the organisation's books.

Naturally, Mr Corbett assured all those registered with the BWMB that, thanks to its auctioning set-up, all those marketing through it would benefit from the price hikes.

Based at Rochester in Northumberland, the chairman was elected to be a board member for the English Northern Region in 2009 and is also well-known in associated circles as vice-chairman of the National Farmers Union's Livestock Board.